Recap
USDCAD tests support at 1.2800/1.2790 but with no bounce, risks increase to the downside.
Forecast
USDCAD tests important support at 1.2800/1.2790 but the failure to bounce from here yesterday increases the risks to the downside today. Therefore holding longs is more risky now. A break below 1.2770 confirms further losses targeting 1.2730/20 & strong support at 1.2700/90 for profit taking on shorts. It could be worth trying longs from here down to 1.2670, with stops below 1.2630.
USDCAD tests support at 1.2800/1.2790 but with no bounce, risks increase to the downside.
Forecast
USDCAD tests important support at 1.2800/1.2790 but the failure to bounce from here yesterday increases the risks to the downside today. Therefore holding longs is more risky now. A break below 1.2770 confirms further losses targeting 1.2730/20 & strong support at 1.2700/90 for profit taking on shorts. It could be worth trying longs from here down to 1.2670, with stops below 1.2630.
